StockNews.com upgraded shares of Fulgent Genetics (NASDAQ:FLGT - Free Report) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
Separately, Piper Sandler decreased their target price on Fulgent Genetics from $22.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday.
View Our Latest Stock Analysis on FLGT
Fulgent Genetics Trading Up 3.9 %
Fulgent Genetics stock traded up $0.69 during trading hours on Wednesday, reaching $18.59. 813,378 shares of the company were exchanged, compared to its average volume of 202,350. The firm has a market cap of $573.11 million, a price-to-earnings ratio of -3.37 and a beta of 1.54. The stock has a 50-day moving average of $17.14 and a 200 day moving average of $19.26. Fulgent Genetics has a 12 month low of $14.57 and a 12 month high of $25.11.
Insider Activity
In related news, CFO Paul Kim acquired 100,000 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost of $15.96 per share, for a total transaction of $1,596,000.00. Following the completion of the purchase, the chief financial officer now directly owns 348,282 shares of the company's stock, valued at $5,558,580.72. The trade was a 40.28 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 31.76% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new position in Fulgent Genetics during the third quarter worth $46,000. GAMMA Investing LLC raised its stake in Fulgent Genetics by 45.5% during the fourth quarter. GAMMA Investing LLC now owns 2,133 shares of the company's stock worth $39,000 after acquiring an additional 667 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Fulgent Genetics by 267.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company's stock worth $50,000 after acquiring an additional 1,960 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Fulgent Genetics during the fourth quarter worth $57,000. Finally, State of Wyoming acquired a new stake in shares of Fulgent Genetics in the fourth quarter valued at $57,000. 48.06% of the stock is currently owned by institutional investors and hedge funds.
Fulgent Genetics Company Profile
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Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company's clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases.
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